Lloyds tsb ppi rebate offer help please

edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
9 replies 2K views
lilygirllilygirl Forumite
17 Posts
Part of the Furniture Combo Breaker
edited 30 November -1 at 1:00AM in Reclaim PPI & Other Insurance
We have been trying to claim from Lloyds insurance since March 2009 they have finally offered us £3990 "as a gesture of goodwill" but will only pay the money back to the loan & not refund it directly to us, we are in arrears by only one month which we said they could keep & pay back to the loan. Does anyone know if they can do this or should we now go to the FOS we feel we have paid this money & want it back in. Any advice would be great

Replies

  • di3004di3004 Forumite
    42.6K Posts
    lilygirl wrote: »
    We have been trying to claim from Lloyds insurance since March 2009 they have finally offered us £3990 "as a gesture of goodwill" but will only pay the money back to the loan & not refund it directly to us, we are in arrears by only one month which we said they could keep & pay back to the loan. Does anyone know if they can do this or should we now go to the FOS we feel we have paid this money & want it back in. Any advice would be great

    Hi there

    First of all well done.:T:beer:.

    You could ask if they are able to just pay the arrears and to refund you the rest of it.

    As its a gesture of goodwill, and they have not admitted liability, they seem to do it this way.
    Do you know how much originally the ppi was?

    If your not satisfied, you can always go to the FOS if you want to, but its entirely up to you, if they finally admit misselling, then "maybe" you would have more of a chance to have so much to cover for the arrears and the remainder of this back to you.

    However, ask them, there is no harm in doing this.;)

    Also just to say if you decide not to go along with it, and go to the FOS, this may take some time due to the high volumes of these complaints.
    We are behind you all the way, good luck.
    The one and only "Dizzy Di" :D
  • lilygirllilygirl Forumite
    17 Posts
    Part of the Furniture Combo Breaker
    They havn't admitted anything they just call it a rebate as a gesture of goodwill but basically its the amount we have already paid! Yes we have asked them to knock the 1 months arrears but they won;t do that. Has anyone else had the same sort of response? Not sure what to do now
  • di3004di3004 Forumite
    42.6K Posts
    lilygirl wrote: »
    They havn't admitted anything they just call it a rebate as a gesture of goodwill but basically its the amount we have already paid! Yes we have asked them to knock the 1 months arrears but they won;t do that. Has anyone else had the same sort of response? Not sure what to do now

    Hi hun

    Its an awkward one isn't it?:confused:
    That is a good offer then if its more or less what you have paid.

    Damn annoying though that they cannot do this, hopefully someone will be along soon who has been in this position.

    My cases with lloyds so far were in regards of older settled cases, so it differed in how they refunded this.

    When you have some time, its also worth checking on the above success threads and other threads, you may come across the information your looking for. Good luck.;)
    The one and only "Dizzy Di" :D
  • maxdpmaxdp Forumite
    3.9K Posts
    lilygirl wrote: »
    We have been trying to claim from Lloyds insurance since March 2009 they have finally offered us £3990 "as a gesture of goodwill" but will only pay the money back to the loan & not refund it directly to us, we are in arrears by only one month which we said they could keep & pay back to the loan. Does anyone know if they can do this or should we now go to the FOS we feel we have paid this money & want it back in. Any advice would be great

    From what I am aware Good will gesture means that you do not have to pay income tax on this so that is one bonus. (if i am wrong with this am sure somebody will correct me.) If they agree you have been miss sold it is your refund and you tell them you want the money paid to you and not off your loand. Good luck and let us know.
    :mad:
  • lilygirllilygirl Forumite
    17 Posts
    Part of the Furniture Combo Breaker
    They have not mentioned miss selling just a "rebate as a gesture of goodwill". Would we have to pay income tax on the rebate - havn't we already paid tax on this money - we paid the ppi from our income that we already pay income tax on. I would like to know if anyone else has had this offer of a "rebate"? Thanks for your help
  • di3004di3004 Forumite
    42.6K Posts
    lilygirl wrote: »
    They have not mentioned miss selling just a "rebate as a gesture of goodwill". Would we have to pay income tax on the rebate - havn't we already paid tax on this money - we paid the ppi from our income that we already pay income tax on. I would like to know if anyone else has had this offer of a "rebate"? Thanks for your help


    Hi lilygirl

    I think your right to be honest.

    I don't think any tax is expected to come out from the rebate, this is to what I know of.;)
    The one and only "Dizzy Di" :D
  • lilygirllilygirl Forumite
    17 Posts
    Part of the Furniture Combo Breaker
    Thanks Di & Maxdp am just trying to search through other threads to see if anyone else has had the same sort of response. I have a feeling Lloyds might be trying to pull a fast one on us here by paying the money back to the loan. I think I am going to send it to the FOS & fingers crossed see what happens. I just feel that this is our money & if they havn't miss sold the PPI why would they want to give us this so called "rebate"
  • di3004di3004 Forumite
    42.6K Posts
    lilygirl wrote: »
    Thanks Di & Maxdp am just trying to search through other threads to see if anyone else has had the same sort of response. I have a feeling Lloyds might be trying to pull a fast one on us here by paying the money back to the loan. I think I am going to send it to the FOS & fingers crossed see what happens. I just feel that this is our money & if they havn't miss sold the PPI why would they want to give us this so called "rebate"


    Your welcome lilygirl.;)

    Fingers crossed to you either way. X
    The one and only "Dizzy Di" :D
  • marshallkamarshallka Forumite
    14.6K Posts
    lilygirl wrote: »
    We have been trying to claim from Lloyds insurance since March 2009 they have finally offered us £3990 "as a gesture of goodwill" but will only pay the money back to the loan & not refund it directly to us, we are in arrears by only one month which we said they could keep & pay back to the loan. Does anyone know if they can do this or should we now go to the FOS we feel we have paid this money & want it back in. Any advice would be great
    How much was the amount of the PPI with interest added? I bet you would get far more back going for the whole amount.. its certainly not going to be the whole amount so unless you really need the money now i personally would not accept this and go to the FOS.
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